This virtual conference is designed for Finance, FP&A and all other planning professionals looking to drive value in their organization through improved financial and forecasting and collaborative planning. With a range of expert speakers from leading companies, you’ll gain practical insight into forecasting best practices, Finance’s role in S&OP/IBP, and the core concepts and processes underlying S&OP/IBP. You’ll come away with the knowledge to drive enterprise-wide benefits that include improved P&L forecasts and operating performance forecasts, balancing supply and demand, inventory management, operational efficiency, and more.
Why YOU should Attend:
ROLE OF FORECASTING IN THE ORGANIZATION
• Benefits and its impact on management decisions, financial performance, supply chain, financial plans, and company budgets
• Responsibilities/accountabilities of individuals involved
• Reaching consensus and getting executive buy-in
• How forecasting relates to business planning, financial management processes, and other business decisions
• Cross-functional participation and the risk of bias in forecasts
DATA MANAGEMENT AND DATA CLEANING
• Data identification and definition
• Structure of time series data and its impact on revenue, inventory, inventory turns, and related accounting reserves, e.g. sales returns, safety stock, and excess and obsolete inventory write-offs
• Data collection and analysis
• Identifying and adjusting for anomalies and outliers
FORECAST ERROR MEASUREMENT
• Importance of error measurement and analysis – financial and non-financial
• Sources and remediation of error
• Interpretation and application of error metrics, and their relationship to key financial metrics, e.g. return on assets, gross margins, balance sheet metrics, and EBITDA
• Mean Absolute % Error (MAPE)
• Weighted Mean Absolute % Error (WMAPE)
• Error analysis and contributing factors, and cost of error and its effects on revenue and profit
HOW TO FORECAST WITH TIMES SERIES MODELS –The most widely used method of short-term forecasting
• Importance of pattern identification and variation
• Time series model identification and development
• When to use time series models
• Advantages and disadvantages of time series methods
• Event adjustments and when to use them
• Underlying assumptions and impacts on department and company financial performance – P&L and balance sheet
• Widely used time series methods – averages, naïve model, exponential smoothing, decomposition, trend, seasonal, and other time series methods
REGRESSION ANALYTICS – Longer-term forecasting and evaluating business drivers and causes of variation in demand.
• An overview of Regression Analysis and its applications
• Advantages and disadvantages
• Application in estimating effects of promotions, pricing, advertising, and other program actions which affect revenue streams, profitability and EBITDA
NEW PRODUCT FORECASTING – Forecasting over longer time periods with greater unknowns
• Challenges of New Product Forecasting and Financial Hurdle Rates in determining acceptable New Product initiatives
• Product lifecycle structure, estimation, and related financial proforma performance expectations
• Qualitative forecasting methods and uses
• Overview of Quantitative and Qualitative forecasting methods
• Expected error, accuracy, and its impact on the company P&L, Balance Sheet, Financial Ratios, and EBITDA
Member’s discount: -$50
Member’s discount: -$50
VIRTUAL FINANCIAL FORECASTING CONFERENCE
JUNE 17-18, 2021
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FUNDAMENTALS OF FORECASTING & PLANNING WORKSHOP
(FREE FOR REGISTERED IBF MEMBERS) | JUNE 16, 2021
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ACCESSS TO ALL SESSION RECORDINGS ON-DEMAND
(3 MONTHS)
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ALL PRESENTATION SLIDES
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BENCHMARKING RESEARCH
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JOURNAL OF BUSINESS FORECASTING
(JBF)
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IBF MEMBERSHIP
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CPF CERTIFICATION EXAMS
3 EXAMS
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BOOK: FUNDAMENTALS OF DEMAND PLANNING & FORECASTING
(FREE SHIPPING)
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COST OF FORECAST ERROR CALCULATOR
BUILD BUSINESS CASE FOR PLANNING RESOURCES
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Become an IBF Member and Start Improving Your Forecasting & Planning Performance Today.
IBF members include well-known company professionals that span a broad array of business sectors. By joining our organization, you can make certain that your company sets up the right forecasting & planning process and uses the best techniques available. Moreover, you can be sure that your forecasting and demand planning staff has the proper knowledge and skill set for success.